Brokerages Set Workday Inc (WDAY) Target Price at $102.37
Shares of Workday Inc (NYSE:WDAY) have received a consensus recommendation of “Hold” from the forty-two brokerages that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, twenty-two have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $102.45.
WDAY has been the topic of a number of recent analyst reports. Canaccord Genuity reissued a “buy” rating and set a $125.00 price target on shares of Workday in a research report on Friday, October 6th. FBN Securities upgraded shares of Workday from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $115.00 to $125.00 in a report on Wednesday, October 11th. Cowen and Company restated a “market perform” rating and set a $100.00 price objective on shares of Workday in a report on Saturday, October 14th. Robert W. Baird restated a “buy” rating on shares of Workday in a report on Friday, October 6th. Finally, BidaskClub downgraded shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Friday, September 22nd.
Shares of Workday (NYSE:WDAY) traded up 2.753% during trading on Thursday, reaching $111.405. 1,278,541 shares of the company’s stock were exchanged. Workday has a 52-week low of $65.79 and a 52-week high of $111.83. The stock’s 50 day moving average price is $106.18 and its 200-day moving average price is $100.70. The stock’s market cap is $23.17 billion.
Workday (NYSE:WDAY) last issued its earnings results on Wednesday, August 30th. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.09. Workday had a negative net margin of 15.71% and a negative return on equity of 24.60%. The business had revenue of $525.30 million for the quarter, compared to analyst estimates of $507.44 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. Workday’s revenue was up 40.6% on a year-over-year basis. On average, equities research analysts forecast that Workday will post $0.83 EPS for the current year.
In other news, insider Mark S. Peek sold 10,249 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $102.00, for a total transaction of $1,045,398.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James P. Shaughnessy sold 8,781 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $108.44, for a total transaction of $952,211.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,575,678 shares of company stock worth $170,655,114. 37.71% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Workday by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 10,782,861 shares of the software maker’s stock valued at $1,045,937,000 after acquiring an additional 846,809 shares during the last quarter. Tybourne Capital Management HK Ltd. lifted its position in Workday by 2.2% in the second quarter. Tybourne Capital Management HK Ltd. now owns 2,935,961 shares of the software maker’s stock worth $284,788,000 after buying an additional 62,419 shares during the last quarter. State Street Corp lifted its position in Workday by 10.6% in the first quarter. State Street Corp now owns 2,288,030 shares of the software maker’s stock worth $190,552,000 after buying an additional 219,326 shares during the last quarter. Federated Investors Inc. PA lifted its position in Workday by 3.3% in the second quarter. Federated Investors Inc. PA now owns 1,322,300 shares of the software maker’s stock worth $128,263,000 after buying an additional 41,800 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Workday in the second quarter worth $117,209,000. 67.08% of the stock is owned by institutional investors.
Workday Company Profile
Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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